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American Consumer Confidence Slips from 18-Year High
U.S. consumer confidence fell in March, following an 18-year high last month. The Conference Board reported the index dropped form a reading of 130 in February, to 127.7 in March. The February level was the highest it had been since November 2000.
Assessment of business conditions and the stock market declined, causing consumers to feel less optimistic. Short-term expectations declined too, though the overall outlook remained favorable.
Survey respondents indicating business conditions are good increased from 36.5% to 37.9%. However, those believing conditions are bad rose from 11.3% to 13.4%.
Lynn Franco, the Conference Board’s director of economic indicators, said, “Despite the modest retreat in confidence, index levels remain historically high and suggest further strong growth in the months ahead.”
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- ◦Economy
